If a Russian Company would like to set up a representative office in Ho Chi Minh City, S&B Law would like to advise as follows:
SPECIFIC QUERIES ON SETTING UP A REPRESENTATIVE OFFICE IN VIETNAM
1. Establishment of a representative office in Vietnam
Under Decree No.72/2006/ND-CP dated July 25th, 2006 of Vietnam Government detailing Trade Law’s regulations on representative offices, branches of foreign company in Vietnam, a foreign company can establish representative office in Vietnam to:
– Operate as contact office of foreign company in Vietnam;
– Promote cooperation projects of foreign company in Vietnam;
– Research market to push up chances to purchase commodities, supply and consume commercial services of foreign company in Vietnam;
– Supervise implementation of foreign company’s contracts signed with Vietnamese partners or related to Vietnam market;
– Conduct other works allowed by applicable law.
It is noted that under Vietnam Law, a representative office is not permitted to offer service(s) for profit-making purposes on its behalf in Vietnam.
2. Specific conditions for establishment of representative office of foreign company
Under Vietnam Law on Trade, in order to setup a representative office in Vietnam, a foreign company should satisfy following conditions:
– Being recognized as legal entities by countries or territories of business registration;
– Having operated for no less than 01 year since legal establishment or valid business registration in the countries of origin.
– Also, the Department of Industry and Trade in Ho Chi Minh City requires that during the time to apply for license of Representative, company should not display the Sign of Representative, or do some activities relating to setting up office or working at the office until the license is granted. Otherwise, provincial competent authority may fine you and shall refuse to grant the license.
It should be noted that license for establishment of representative offices expire in five years but no more than expiration date of business registration or equal documents of foreign businesses in case foreign legislation establishes such a date. The License can be renewed.
B. SERVICES, TIMING AND SERVICE FEE
1. Services of S&B Law
S&B LAW is ready to provide for legal consulting service to you for the purpose of establishing a representative office of your company (herein after referred as Client) in Vietnam.
– Providingadvices on all legal aspects relating to procedures of obtaining License for establishment of representative office from competent authority;
– Preparing Application Dossiers (in both Vietnamese and English) for obtaining License for establishment of representative office;
– Representing Client to submit the Application Dossiers for obtaining License for establishment of representative office;
– Working with provincial competence authority on behalf of Client to obtain the best support on reviewing and considering the application and providing explanation and/or supplementation of application dossiers per request;
– Updating information of the approving process to Client;
– Receive new License for establishment of representative office from provincial competent authority and hand it over to Client.
– Within 01 (one) working day from singing contract between two parties, S&B Law shall deliver Client checklist of information and necessary documents for establishment of representative office in Vietnam;
– Within 02 (two) working days from full receipt of information and necessary documents delivered by Client, S&B Law shall deliver Client application dossiers for reviewing and proceeding;
– Within 01 (one) working day from full receipt of signed document provided by Client, S&B Law shall submit application dossiers to provincial competent authority;
– Within 15~20 (fifteen to twenty) working days from submission of dossier to provincial competent authority, S&B Law shall obtain License for establishment of representative office in Vietnam;
– Within 05 (five) working days from obtaining License, SB Law shall register and obtain sample of seal and deliver to Client.
Get in touch with us